Ceylon Graphite Corp (TSE:CYL) has released an update.
Ceylon Graphite Corp. has announced the renewal of its IML C license for the M1 mine, enabling the immediate resumption of graphite mining activities. The company plans to increase production through constructing an incline tunnel for easier material movement and intends to build an on-site processing plant to refine graphite to 99%+ purity. With a skilled mining and management team and high demand for its high-grade graphite, Ceylon Graphite expects to generate revenue in the near future while expanding production.
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